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Accounting 1 Chapter 2

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
An accounting device used to analyze transactions   T-Account  
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An amount recorded on the left side   Debit  
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An amount recorded on the right side   Credit  
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The side of the account that is increased   Normal Balance  
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A list of accounts used by a business   Chart of Accounts  
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Normal Balance of Supplies   Debit  
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Normal Balance of Cash   Debit  
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Decrease side of an Asset   Credit  
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Normal Balance of Accounts payable Accounts   Credit  
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Decrease side of a Liability   Credit  
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Normal Balance of Capital   Credit  
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Normal Balance of Sales   Credit  
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Normal Balance of Expense Accounts   Debit  
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Normal Balance of Drawing   Debit  
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Decrease side of Capital   Debit  
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Created by: TammieVanScyoc
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